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Otakikpo Operations Update

LAGOS, NIGERIA – Lekoil (AIM: LEK), the oil and gas exploration and development company with a focus on Africa, announces an update on operations from the Otakikpo Marginal Field (“Otakikpo”).

The Otakikpo-002 well flowed oil from two upper zones during two production tests concluded on 10 April 2016.  The C5 zone flowed at a peak rate of 6,404 bopd at a 36/64 choke while the C6 zone successfully flowed oil at a peak rate of 5,684 bopd at a 36/64 inch choke, for over 24 hours.  Production testing at the well was curtailed due to storage capacity limits on well-testing equipment.  The Company expects to start commercial production by the end of Q2 2016.

Click on PDF file for full announcement.

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